Charles Schwab, the financial equivalent of a 1990s tech startup that somehow became a global titan, is now flirting with the wild, wild west of cryptocurrency. With $10.7 trillion in client assets, they’re basically the financial version of a guy who’s been saving every spare penny for a rainy day—only this time, the rain is made of Bitcoin and Ethereum. 🌧️💸
Schwab Launches Bitcoin & Ethereum Trading
In a recent CNBC interview, CEO Rick Wurster casually mentioned that Schwab’s clients already own more than 20% of the entire ETP market. Because nothing says “trust” like letting your clients bet on digital tokens they can’t even hold in their hands. 🤷♂️
But let’s not get ahead of ourselves. Crypto still makes up a tiny sliver of Schwab’s total assets—$25 billion out of $10.8 trillion. That’s like bringing a spoon to a knife fight, but hey, at least they’re trying. 🥄🔪
JUST IN: $10 trillion Charles Schwab CEO says they will launch Bitcoin trading “sometime soon” and will be competing with Coinbase
— Bitcoin Magazine (@BitcoinMagazine) July 18, 2025
The timing is perfect, because who doesn’t want to trade crypto when the rules are as clear as a foggy morning in a blockchain? The U.S. House just passed the GENIUS Act, which is probably a terrible name for a law but great for marketing. 🎉
Competing With Coinbase
Schwab’s entry into the crypto arena is like a kid bringing a lemonade stand to a superhero convention. They’ve listed Bitcoin and Ether ETFs, allowed related funds, and now they’re ready to let clients trade the actual coins. Because nothing says “trust” like letting people buy digital gold with a few clicks. 🏦💰
Wurster claims clients keep 98% of their wealth with Schwab but stash crypto elsewhere. Because nothing says “convenience” like juggling portfolios across multiple platforms. 🧘♂️
Institutions Add More Crypto
It’s not just Schwab—83% of institutional investors are planning to up their crypto game in 2025. Because nothing says “serious business” like investing in tokens that could vanish overnight. 📉
Another study found 90% are using or testing stablecoins. Because nothing says “stability” like a digital currency backed by… well, something. 🤔
Profits Rise as Schwab Grows
Even though global crypto spot trading dipped last quarter, Schwab’s profits jumped 60%. Because nothing says “success” like riding the crypto wave while everyone else is drowning. 🌊📈
For Schwab, crypto isn’t just an add-on anymore—it’s the main event. Because who needs a stable business when you can have a volatile one? 🚀
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2025-07-19 14:52